I spoke with Musheer Ahmed, the General Manager and a co-Founder of the FinTech Association of Hong Kong. He is also a former Fixed Income, Rates, and Commodity trader and hails from Bangalore, the self-proclaimed IT Hub of India.
The move into FinTech was a natural one of Musheer. He even made the case that FinTech, with or without that moniker can be traced back to the first ATMs and maybe even further back to the telegram that was used to communicate between the NYSE and the LSE.
At the end of 2016, InvestHK organized the first Hong Kong FinTech Week and Musheer and some of the other more active members of the FinTech community organized one of the days of the week-long event. Built upon the success of the week, the team was encouraged to set up an industry body to serve both as a conduit between regulators and the industry and a place where participants could come and connect. This was essentially the genesis of the FinTech Association of Hong Kong, launched in the middle of 2017. Impressively, since launch, the Association now has 1,500 members representing over 400 firms, including some of the largest traditional financial firms and approximately 150 startups. The association has three main goals…Advocate, Collaborate and Educate.
Most recently, the FinTech Association of Hong Kong released a report entitled, “The GBA FinTech Report 2019, Hong Kong-Macau-Guangdong Greater Bay Area FinTech Analysis & Recommendations.” According to the report, “The Greater Bay Area (GBA) initiative is a plan to build a world-class city cluster linking Hong Kong, Macao and 9 cities in the Guangdong Province. The aim of the GBA initiative is to create a bay area economic cluster in Southern China capable of competing, and even overtaking, similar economic zones around the world such as the San Francisco Bay Area, the Greater New York and Greater Tokyo.” I highly recommend you read this report and listen to the conversation that Musheer and I had discussing some of the ideas and concepts that resulted from 6 months of hard work to get this report out.